Lyndon Johnson actually said...

In substance, H.R. 162 could reduce the preferred mortgage holder virtually to the status of an unsecured creditor.

This could destroy the usefulness of the preferred ship mortgage as a means of privately financing merchant ship construction--a method whic...

I stressed that I could get subjective reporting free; what I want is objective reporting.

The mischief in H.R. 162 is this: it would--for the first time--give the highest priority lien to those who contract with the ship's master ...